Quote:
Originally Posted by Sands
I sincerely hope that sponsors see the situation for what it is, and the potential quagmire that a lot of their affiliates will be in if secondary producers will be required to be 2257 compliant. I know that there are some sponsors who already provide washed ID's and docs for their affiliates, but there are many that don't. I know that in the past month, I've emailed several of my sponsors asking if they would provide docs and ID's, and those that did reply told me to link to their 2257 page (which doesn't get me any closer to being compliant).
Could some sponsor/affiliate representatives who are reading this possibly make a few statements about whether or not they have some contingency plans? Are any of you willing to, or preparing to issue the necessary documents to your affiliates should they be required after May 1st? I'd really love to hear from them.
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According to the law they HAVE to comply. If not the DOJ can simply have those in the US procecuted and those outside the US have the US banks and even Visa to stop doing business with them.
Regardless if they don't comply saying "My sponsor won't hand over the docs" is not an excuse. You will still be in trouble. So will your sponsor, but they have better lawyers.